Christine's Feed
Oct 11, 2012

Cargill results bounce back in first quarter

Oct 11 (Reuters) – Agribusiness giant Cargill Inc
said on Thursday quarterly earnings rose strongly, boosted by
all five main business segments, but cautioned the impact of the
worst U.S. drought in a half century was still unfolding.

Minneapolis-based Cargill, one of the world’s largest
privately held corporations, reported net earnings of $975
million for the first quarter of fiscal 2013 ended Aug. 31,
versus $236 million for the same quarter a year ago.

Sep 28, 2012

Farm law to expire but many programs funded through March

CHICAGO (Reuters) – Expiration of U.S. farm law on October 1, shutting off dairy supports and putting 2013 crop subsidies in limbo, will cause pain for some farmers and frustration for many but programs like food stamps and crop insurance will roll on, analysts said.

Government funding is assured through March 2013 for many programs based on a July deal to extend budget authority reached by feuding Republicans and Democrats ahead of the November elections.

Sep 12, 2012

Biggest US ag lender says it will stand by drought-hit customers

CHICAGO, Sept 12 (Reuters) – The Farm Credit System, the
largest single lender to U.S. agriculture, said on Wednesday it
would meet the borrowing needs of rural America and stand by its
customers challenged by the worst drought in more than half a
century.

“The Farm Credit System remains well positioned to meet the
borrowing needs of rural America, notwithstanding the difficult
conditions brought on by the drought of 2012,” the presidents of
the FCS’s four regional banks said in a joint statement.

Aug 1, 2012

U.S. Farm Credit System posts higher earnings, drought eyed

CHICAGO, Aug 1 (Reuters) – The U.S. Farm Credit System, a
government-sponsored enterprise and the single largest lender to
U.S. agriculture, said on Wednesday second-quarter net earnings
rose 8.7 percent, reflecting a strong agricultural economy.

The System, which funds its lending to farmers and
agribusinesses by issuing debt securities to domestic and
foreign investors, earned $1.067 billion, compared with $982
million a year earlier.

Jul 31, 2012

Cargill says its Singapore veg oil traders leave

CHICAGO, July 31 (Reuters) – Global commodities trading
giant Cargill Inc said on Tuesday a group of employees
at its vegetable oils trading desk in Singapore had left the
company but daily business operations remained unaffected.

“We have had employee changes and departures in Cargill’s
oil palm and vegetable oil trading operations in Singapore. No
other Cargill businesses are affected. We are fortunate to have
strong trading and operations teams across Cargill’s global
businesses that will be able to step in and continue our
operations,” Cargill said in a statement.

Jul 31, 2012

Cargill employees exit Singapore veg oil trade desk

CHICAGO, July 31 (Reuters) – Global commodities trading
giant Cargill Inc said on Tuesday a group of employees
at its vegetable oils trading desk in Singapore had left the
company but daily business operations have been unaffected.

“We have had employee changes and departures in Cargill’s
oil palm and vegetable oil trading operations in Singapore. No
other Cargill businesses are affected. We are fortunate to have
strong trading and operations teams across Cargill’s global
businesses that will be able to step in and continue our
operations,” Cargill said in a statement.

Jul 27, 2012

Crops in center of Corn Belt see little drought relief

CHICAGO (Reuters) – Corn and soybeans in the northern and eastern U.S. Midwest will continue to benefit from showers and cooler temperatures over the next week, but heat and drought will keep stressing crops in the southern and central Corn Belt, an agricultural meteorologists said on Friday.

The midday run of the U.S. weather model for the coming week was consistent with its earlier outlook, meteorologists said.

Jul 25, 2012

U.S. banks boost loans to cash-rich grain farmers in 2012

CHICAGO, July 25 (Reuters) – Demand for agricultural loans
at U.S. commercial banks rose during the first six months of
2012, led by farmer loans for machinery, grain bins and machine
sheds, the Federal Reserve Bank of Kansas City said on
Wednesday.

“During the first quarter, commercial banks reported a 1.4
percent increase in total agricultural loan volume, led by
stronger gains in non-real estate farm loans,” the Fed said in
its agricultural finance databook based on a national survey of
250 ag bankers.

Jul 24, 2012

Crops get much-needed drink, more rains needed soon

CHICAGO (Reuters) – Rainfall across the northern U.S. Midwest over the next 10 days will provide some relief for the drought-stricken corn and soybean crops, but more rain is needed to stem further crop losses, agricultural meteorologists said on Tuesday.

Rains from central Minnesota eastward to the northern regions of Illinois, Indiana and Ohio since late Monday through midday Tuesday averaged 0.75 inch to 1.25 inch, said Joel Widenor, an agricultural forecaster with Commodity Weather Group. Heavier amounts of up to 2.0 inches fell in central and southeastern Minnesota.

Jul 24, 2012

Farmers seen weathering 2012 drought better than in 1988

CHICAGO (Reuters) – Crops are taking a beating in the worst drought since 1988 but most farmers are not sweating like they did 24 years ago when a drought hit as they were just starting to recover from a farm depression that brought down a big slice of the Midwestern economy.

While financial losses from the 2012 drought in the world’s largest food exporting nation will no doubt top the $40 billion of losses in 1988 — an inflation-adjusted $78 billion today — U.S. farmers face this drought in their strongest financial position in history, buoyed by less debt, record-high grain and land prices, plus greater production and exports, according to agriculture bankers, farm managers and economists.

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      "As community editor for Thomson Reuters global on-line chatroom for grains traders and analysts, the Global Ags Forum, I lead chats on the latest factors driving grains and oilseeds markets worldwide, organize chat events with expert industry sources and promote the room to potential market players. Based in Chicago, I also report on U.S. cash and futures grains and oilseeds markets."
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